OPEC Says Nigeria Retains ‘Biggest Oil Producer’ Status In Africa Despite February Crude Oil Production Fall

Abiola Olawale
Writer

Ad

DHQ Never Mentioned Any Coup Attempt

1. The attention of the Defence Headquarters (DHQ) has been drawn to a false and misleading report by an online publication insinuating that the cancellation of activities marking Nigeria’s 65th Independence Anniversary was linked to an alleged attempted military coup. The report also made spurious references to the recent DHQ press release announcing the arrest…

Oil Prices Dip as Trump-Putin Summit Looms

Crude oil prices are expected to decline this week due to the hypothetical possibility of a peace agreement between the US and Russia, which could lead to a rebound in Russian oil exports and contribute to a predicted supply glut. The International Energy Agency has revised its demand growth estimates downwards for both this year…

When Forgiveness Is Hard (2), By Funke Egbemode

She was popularly called Mama Iyabo. Her husband threw her out of their matrimonial home 15 years ago, along with her three children, after 15 years of marriage. “I had earlier heard rumours about my husband and another woman. I knew he had girlfriends. He was doing well and living it up, though he took…

Ad

By Kolawole Ojebisi 

The Organization of Petroleum Exporting Countries (OPEC) has said that Nigeria’s average daily crude oil production declined to 1.46 million barrels per day (bpd) in February.

The global oil body disclosed this in its latest monthly market report, released on Wednesday.

OPEC said the production data was based on direct communication with Nigerian authorities. The corporation noted that it receives data on crude oil production from two sources: direct communication from member countries, and secondary communication ( data from energy intelligence platforms).

According to the report, the current output signifies a 4.8 percent decrease from the 1.53 million bpd recorded in January — the first month-on-month output decline in the year.

The oil organization said data from secondary sources put Nigeria’s crude production at 1.56 million bpd in February — a 2.2 percent increase from the 1.52 million bpd recorded in January.

With the current production volume, the global oil body said Nigeria retained its position as the biggest oil producer in Africa, with Algeria taking second position, producing 912,000 bpd output.

OPEC said secondary sources disclosed a “total OPEC-12 crude oil production averaged 363 tb/d in February, m-o-m, averaging about 41.01 mb/d”.

“Crude oil output increased mainly in Nigeria, Iraq and IR Iran, while in Gabon and Congo production decreased,” OPEC said.

“At the same time, total non-OPEC DoC crude oil production averaged 14.15 mb/d in February 2025 and averaged 2088 tb/d lower, m-o-m.

“Crude oil output increased mainly in Kazakhstan, while production in Mexico, Malaysia and Russia decreased.”

On March 3, OPEC and its allies (OPEC+) announced their decision to increase oil output in April.

Ad

X whatsapp